DHFL Home Loan Calculator 2018

Last Updated 12th Jun 2018

Get monthly EMI as low as Rs. 758 per lakh on DHFL home loan. Housing loan EMI in DHFL depends upon loan amount, loan tenure and interest rate.Check Best Offers

DHFL Home Loan EMI Calculator

Loan Amount10 year loan15 year loan30 year loan
Rs. 20 LakhRs. 24,637 Rs. 19,519 Rs. 15,166
Rs. 30 LakhRs. 36,955 Rs. 29,279 Rs. 22,749
Rs. 50 LakhRs. 61,592 Rs. 48,798 Rs. 37,915
Home Loan EMI Calculator
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DHFL Loan Calculator

DHFL Home Loan EMI

• Home Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to DHFL against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
• With DHFL offering Home Loans with loan tenure upto 30 years, the loan EMI can be as low as Rs. 758 per lakh, to make it more affordable and convenient to meet your needs. Lowest Rate of interest offered by DHFL on Home Loan is 8.35%.
DHFL Housing Loan EMI Calculator at different tenures
EMI for different Home Loan amounts and tenures @ 8.35% interest rate
Loan Tenure
Loan Amount (Rs.) 15 years20 years30 years
2,500,000 24,399 21,459 18,958
5,000,000 48,798 42,918 37,915
7,500,000 73,198 64,376 56,873
10,000,000 97,597 85,835 75,831
• As you can see in the above table, for various loan amounts taken at the lowest rate of interest, EMI differs by loan tenure at 15, 20 and 30 years. Your EMI is higher when you take loan for a shorter tenure of 15 years and it is lower when you apply for a higher tenure of 30 years.
• Your EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, every month the proportion of interest payment and principal repaid within each EMI is different. With every EMI, the proportion of principal repayment in EMI keeps increasing and the interest component in EMI keeps reducing.
Use EMI Calculator to calculate your interest on home loan at different tenure
Home Loan EMI for Rs. 1 Lakh loan amount at lowest 8.35% interest rate offered by DHFL for different tenures
5 years 10 years 15 years 30 years
DHFL EMI for a loan amount Rs. 1 lakh at 8.35% 2,044 1,232 976 758
Total amount you pay back to the bank including principal and interest 1.23 Lakh 1.48 Lakh 1.76 Lakh 2.73 Lakh
Interest you have to pay over loan tenure 22,640 47,840 75,680 1.73 Lakh

The above table shows the longer your loan tenure, lower is the EMI you pay on the loan. However, your total interest outgo is significantly higher in a long tenure loan. In the above example, if you take a Rs. 1 Lakh loan for a period of 30 years, you pay the lowest EMI of Rs. 758 . However, you pay an interest of Rs. 1.73 Lakh on a Rs. 1 Lakh loan.
In contrast, if you take a Rs. 1 Lakh loan from DHFL at the lowest loan rate offered for a period of 15 years, you pay a higher home loan EMI of Rs. 2,044 and pay an interest of only Rs. 22,640 which is less than half of what you paid in a 30 year loan. Hence, it is advisable to choose your loan tenure wisely as longer tenure means high interest expenses.

DHFL Home Loan Details

• Purpose of Loan: DHFL house loan is taken to purchase, construct a home, renovate your existing home.
• Key Features
• Loan available for both salaried and self employed. Special rates for women borrowers.
• Borrowers within the age group of 21 and 60 years.
• Security: Mortgage of property you are planning to purchase, renovate or construct.
• Loan to Value Ratio of 75% to 80%.
• Loan Tenure can range from 5 to 30 years.
• Interest rates in the range of 8.35% to 9.75%.
• Lowest EMI of Rs. 758 per lakh
• Processing Fees: 0.50% of loan amount Minimum Rs. 2,500 Maximum Rs. 20,000
• Special schemes: DHFL offers customised home loan interest rates and schemes for special category of borrowers including women borrowers, senior citizens, NRIs etc. Some of the special loan offers of DHFL are:
• Home Construction Loan
• Home Improvement Loan
• Plot Loan/Land Loan
Factors Affecting DHFL Home Loan EMI
• Loan amount – This is the amount borrowed by a borrower from DHFL. If you apply for a higher loan amount, your monthly EMI will be high. DHFL gives minimum home loan of Rs. 15 Lakh upto an amount of Rs. 5 Cr.
• Interest rate - Interest rates is the rate charged by DHFL on your home loan. Higher interest rate increases your housing loan EMI which will increase the total cost of the loan. DHFL current home loan interest rate starts at 8.35%. Do complete market research and compare rates and calculate EMI online before you apply for a home loan.
• Loan tenure – This is the period in which you can repay your home loan in DHFL. Longer loan tenure means lower housing loan EMI. Loan term can be determined by your age at the time of loan sanctioning and your retirement age. Generally, DHFL offers house loan for a maximum tenure of 30 years.

DHFL EMI calculator formula

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how DHFL Home Loan EMI is calculated:

In above formula,

P = Loan amount. This can range from Rs. 15 Lakh to Rs. 5 Cr

r = Rate of interest per month. Current rate is 8.35%, which is linked to DHFL PLR

n = tenure in month. For DHFL, this can be 360 months

DHFL Home Loan Interest Rate Calculator

Typically, Home Loan EMIs constitute as large proportion of a household’s monthly expenditure to pay for a long period. Being a long tenure loan, the total interest you pay on a housing loan for 30 years can be more than the original loan amount you have borrowed from the bank. DHFL Home Loan Interest Rate Calculator can help you calcuate the interest rate you are eligible for and also, the total interest you will pay during the loan duration. Some of factors that are used for interest rate calculation are:

• Occupation of the borrowers: Banks charge slightly higher interest rate on home loans for self employed as compared to that on loans for salaried borrowers.
• Amount of the Loan: DHFL offers loan of up to Rs. 30 Lakh at 8.35% and loans of above Rs. 30 Lakh at rates ranging from 9.00% to 9.75%.
• Type of loan opted for: The bank also offers different rates on its various loan schemes such as fixed rate home loan, floating rate home loan and home loan with overdraft facility etc.
• Existing bank customers: ICICI Bank may also offer lower interest to its existing bank account holders to maintain its relationship.
• Tips to decide the right amount of EMI

• Ascertain the amount you need to borrow: It is important that before approaching a bank for loan, you need to estimate the amount of loan you need to borrow. The amount of loan you need to borrow is a function of the value of the property and available funds with you. Remember house loan is a long term loan, and hence it is advisable to minimise your loan amount to the extent possible. Limit your loan amount to the balance funds you need to fund the property after accounting for your own available funds. Also, based on the EMI you can service, try to opt for lowest tenure of loans as long tenure loans result in huge interest outgo.
• Review your current obligations: Before, taking a loan it is advisable to do an evaluation of your current monthly expenses including any EMI obligations that you have on your current loans. The assessment will help you to estimate the amount of EMI you can pay comfortably after taking into account other obligations. Once you arrive at the EMI you can service, you can also decide on the right loan tenure.
• Calculate your DHFL home loan eligibility: Your home loan eligibility is a function of value of the property and assessment of your repayment capacity based on your monthly income. DHFL provides a LTV upto 75% and expects the borrower to fund the remaining value of property by own money. For example, at its lowest LTV 75 %, DHFL would expect its borrowers to provide margin money of 25%. In case this margin payment is higher than your available funds as estimated by you, you might need to look for higher LTV loans, which may carry higher interest rates and hence, will result in higher EMIs.

Will the DHFL home loan EMI remain constant or change in future? What happens in case of increase or decrease in interest rate?

• Typically, the home loan EMI remains unchanged unless the customer requests for a change and the same is approved by DHFL subject to its eligibility conditions (note that nominal charges may apply for effecting a customer initiated change in EMI)
• In case the floating rate of interest on your home loan increases, DHFL will typically keep the EMI constant but increase the loan tenure. So, you will pay the same EMI but for a longer duration. In case the interest rates increase to an extent that the revised loan tenure is more than the maximum permissible by DHFL, the bank may increase your EMI amount.
• For partly disbursed loans availed under tranched EMI scheme, your loan EMI will increase with each disbursement.

Will home loan EMI change in case of prepayment?

• DHFL allows prepayment at nil charges or penalty in case of floating rate home loans.
• When you make a prepayment, the outstanding balance of principal amount on your home loan reduces. In this case, you may choose to either keep the EMI the same and reduce the loan tenure (that is paying off the loan faster) or reduce the EMI and keep the loan tenure the same (that is paying lesser amount every month). It is beneficial to keep the EMI constant and reduce the loan tenure as you pay less interest to the bank in this option.

Why should I calculate DHFL loan EMI before taking a loan?

It is advised to calculate home loan EMI prior to taking a home loan. There are several benefits of calculating your DHFL housing loan EMI as discussed below -

• In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount which fits your monthly budget and makes EMI easily affordable.
• If you already know the EMI you have to pay each month, then you can plan your spends accordingly
• Based on the EMI amount, you can opt for making prepayment of your home loan in future when you have surplus amount

Compare Home Loan EMI of All Banks

DHFL Home Loan News - Jun 2018
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